Iute Pay has been granted a license for issuing electronic money and providing payment services

Iute Pay Macedonia, part of the Estonian Iute Group, has officially been granted a license by the National Bank of the Republic of North Macedonia to issue electronic money and provide payment services.

With this license, Iute Macedonia completes its ecosystem of services. Following consumer lending as its core activity, the company recently entered the insurance brokerage market with the launch of Iute Safe.

From now on, users will be able to open payment accounts, top up their digital wallets, access their funds via cardless ATMs, make real-time cashless money transfers, and perform fast payments to merchants using QR codes.

“Licensing an electronic money institution is a significant milestone. It’s not just regulatory approval—it marks the beginning of a revolution in how financial services are offered and used in North Macedonia.
Our mission is clear: to deliver fast, seamless, and user-centric solutions with the highest standards of security and innovation.
We are proud to have the Iute Group behind this initiative—a global fintech leader powered by Estonian technology that is already transforming payments across multiple countries within and beyond the EU.
Now, technology will be available in Macedonia.
This is just the beginning. We remain committed to digital transformation, financial inclusion, and creating value for all users,”
said Aleksandar Petkovski, CEO of Iute Pay Macedonia.

This license enables the issuance of electronic money and provision of payment services without the involvement of traditional banks.
Unlike conventional financial institutions, electronic money institutions focus on cutting-edge technology, digital solutions, speed, and flexibility—giving users full control through mobile and online platforms.